- CEO
- Pengxiang Lang
- Full Time Employees
- 364
- Sector
- Industrials
- Industry
- Industrial - Distribution
- Address
- 426 Xuefu Street Taiyuan People's Republic of China 030006
- IPO Date
- Jul 18, 2005
- Business
- Puda Coal, Inc. (PUDA) supplies metallurgical coking coal in the People's Republic of China through its indirect equity ownership in Shanxi Puda Coal Group Co., Ltd.; the company processes raw coking coal sourced primarily from third-party mines in Liulin County, Shanxi Province, into cleaned, high-grade coking coal used by coke and steel producers to manufacture coke for the steelmaking process; it markets its products mainly in Shanxi Province, Inner Mongolia Autonomous Region, Hebei Province, Beijing, and Tianjin. Puda Coal also operates as an acquirer and consolidator of coal mines in Shanxi Province, including the Pinglu project in Pinglu County, which consolidates multiple mines into larger operations with expanded production capacity from 1.56 million metric tons to 3.6 million metric tons annually for coking coal, and the Jianhe project in Huozhou County, involving consolidation of four coking coal mines with total recoverable reserves of 23.7 million metric tons and capacity increases from 720,000 to 900,000 metric tons per year; additional phases include thermal coal mine consolidations in Pinglu aiming for 2.7 million metric tons annual capacity post-consolidation. Founded in 2004 and headquartered at 426 Xuefu Street, Taiyuan, Shanxi Province, China, the company focuses on the coal washing and emerging coal mining segments of the materials industry, serving steel manufacturers as its primary customer base. In recent years, Puda Coal has pursued upstream expansion through government-mandated coal mine consolidations in Shanxi Province, signing investment cooperation agreements for funding remaining mine acquisitions, conducting public offerings to support coal mine purchases, and receiving provincial approvals for production capacity upgrades amid safety and efficiency initiatives; however, the company faced significant challenges including SEC charges in 2012 against former executives for fraud involving undisclosed asset transfers of its Shanxi Coal subsidiary, leaving it as a shell with no ongoing operations and trading at minimal value on OTC markets.